Murray Energy Is 8th Coal Company in a Year to Seek Bankruptcy
The company, led by a political ally of President Trump, is the latest casualty of a switch by utilities to natural gas and renewable energy sources.
Murray Energy, the nation's largest privately owned #coal firm, becomes the eighth coal company in a year to file for bankruptcy. The market has spoken: coal can not compete with cleaner and cheaper sources of energy.
Murray Energy has filed for bankruptcy.
Murray Energy, once a symbol of American mining prowess, has become the eighth coal company in a year to file for bankruptcy protection
The New York Times
Murray Energy, the largest privately-held coal company in the U.S., has become the 8th coal company in a year to file for bankruptcy protection, the latest sign that market forces are throttling the Trump administration’s bid to save the industry
Murray Coal bankruptcy numbers: 70m tons of coal/yr (~$3b in revenue), 150m+ tons of CO2 worth >> $15b of "damage" (at @$100/ton CO2 price + other environmental damage)!! 7000 employees probably could be each paid $100k/yr for no work and cost US less!!